Setting expectation…

I have came across posts from a few critics who has reserved some comments on Robert Kiyosaki’s “Rich Dad, Poor Dad”.  Perhaps, these people already had a good grasp of the financial and money principles and saw what was in the book as too shallow.  The book “Rich Dad, Poor Dad”, I believe, is targetted at specific general population who has very little financial knowledge and little interest in financial knowledge.  The book is served to inspire and not a guide on how the steps to acquire wealth.  Robert Kiyosaki might have written…

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Investor's emotional traps

Emotions play a great part on how we do investment.  This is especially true when you have low level of investment and financial knowledge.  Without much of that to rely on, we begin to invest on hunch or the feel of things, blindly following the crowd, or acting on hot tips.  Often than not, we fall prey to all these emotional traps.  

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Personal Finance is like….martial arts?

David Allen in “Getting Things Done” compares productivity to the martial arts. He gives instruction on how to become a black belt in your personal productivity with a “mind like water” that allows you to handle anything that comes your way with a balanced response. Becoming a black belt and having a “mind like water” in your personal finances is very similar. It means you can take whatever is thrown at you without knocking your finances out of control. You…

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Would you take this offer?

Your credit card company offers you a $10,000 credit line at a low promotional 2.99% Annual Percentage Rate (APR).  Would you take it and put to good use?  I don’t mean spending on “ego” toys like Plasma TV, new car, new furniture etc. :-P  What you choose could reflect if you have a mind set of the riches. Will this person take the offer?

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Don't wait for the schools…

We have always been looking at the schools to be the only source of education for our children.  But personally, I see that in terms of financial knowledge, parents should also do their part in assisting and ensuring that their children has certain level of literacy.  It may or may not be a formal form of learning (like going for courses, classes).  It can also be learnt from the day to day life, like involving and explaining taxes and personal investments to the…

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Do you take action?

What did you do after you finish reading the “Rich Dad, Poor Dad”?  You understood certain points but do you try putting it in practice.  I know, we (at least me) often have thoughts to it, but never actually put into action. In fact, we don’t have to draw up big plans etc.  Start small and try to improve.  You just have to start somewhere. Here’s a post on how one guy put what he learnt into action.

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Parents' fault?

Firevalt reported that a recent article in the Las Vegas Review-Journal shows that most teenagers are financially illiterate. I suspect that this is true around the world.  Financial knowledge are not widely taught in school, and parents themselves are not talking to their children about money management principle simply they don’t have enough understanding of that to teach their children as well. 

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Even a 10 years old can understand this…

The reason why Robert Kiyosaki’s “Rich Dad, Poor Dad” is so successful is because it is able to present the principle of personal finance in a very clear and simple to understand way.   I think Robert Kiyosaki understands that the general population has extremely low financial knowledge and anything too complex or technical would not attract them.  He needs to present the simple principle in a way such that even a 10 years old can pick up with a little of effort.

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